29 January 2013

Rwanda: Indian Investors Here for Business

Photo: John Mbanda
A shop assistant (file photo).

ELEVEN DELEGATES from seven companies based in Mumbai, India arrived in Rwanda to explore business opportunities and kick-start projects that they have already initiated in the country.

The representative of Rwanda Development Board (RDB) in India, Clarence Fernandes, told The New Times in an interview that the investors will spend a week visiting potential business areas, meeting other business partners, and training local agents.

"We are all coming with a definite fixed agenda. It's not that we come and then see what we should do," Fernandes said.

Seven companies are participating in the tour, including Microtechnologies India Limited, whose chairman and managing director, Dr. P. Sekhar, yesterday launched a book 'Security Requirements of Rwanda - A global perspective' about safeguarding security in various business fields in Rwanda. The Indian High Commissioner to Rwanda, S.N Ray, was the guest of honour.

Others are IP INFRA Limited whose director, Ignatius Pinto, and his consultant Bosco Tellis, will head to Southern Province's Kibeho Catholic Pilgrimage where they plan to build lodges for pilgrims. Fortis Institute of Nursing's Dr. Anita Collins will train nurses in Rwamagana and Byumba nursing schools.

Yesterday, two companies - Terrafive Technologies, which provides mobile banking services and Seventh Wave Leisure, a tour company interested in tapping Rwanda's tourism potential - registered to begin operations in the country.

"Our company decided to begin operations here because of the obvious security in the country, as well as a positive business climate that has a variety of opportunities," Rohan Pereira, the Chief Technology Officer of Terrafive Technologies, said

The investors are eyeing the sectors that are important in Rwanda's drive towards a middle income economy as well as the poverty eradication strategy, according to Vivian Kaitesi, the Head of Investment Promotion and Implementation Unit at RDB.

"Government's targets for the economy are ambitious and that is why credible investors are welcome to Rwanda," Kaitesi said yesterday during a meeting with the Indian investors.

According to Fernandes, also a member of the Indian Merchants' Chamber, investments between Rwanda and India have been growing lately and he hopes to keep targeting those serious business owners who have tangible projects to start in the country.

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